Immuneering (NASDAQ:IMRX) Issues Quarterly Earnings Results, Hits Estimates

Key Points

• Immuneering Reports Earnings: The company announced a quarterly earnings per share (EPS) of ($0.40), meeting analysts' expectations.
• Stock Performance: Immuneering's stock rose by 19.6% to $3.64 following the earnings report, with a notable trading volume of 293,493 shares.
• Insider Transactions: Director Peter Feinberg and CEO Benjamin J. Zeskind made significant stock purchases, indicating confidence in the company's prospects.

Immuneering (NASDAQ:IMRX - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.40) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.40), Zacks reports.

Immuneering Stock Performance

Shares of Immuneering stock traded down $0.23 during trading on Monday, hitting $3.53. The company's stock had a trading volume of 304,499 shares, compared to its average volume of 1,231,364. Immuneering has a 52 week low of $1.01 and a 52 week high of $4.69. The company has a market capitalization of $128.21 million, a PE ratio of -1.87 and a beta of 0.37. The company has a fifty day simple moving average of $3.39 and a two-hundred day simple moving average of $2.20.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IMRX shares. Mizuho boosted their price objective on shares of Immuneering from $8.00 to $10.00 and gave the company an "outperform" rating in a research report on Wednesday, June 18th. Oppenheimer cut their target price on shares of Immuneering from $25.00 to $21.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC reissued a "buy" rating and issued a $9.00 price target on shares of Immuneering in a research note on Wednesday, June 18th. Finally, Chardan Capital restated a "buy" rating and issued a $13.00 price objective on shares of Immuneering in a report on Thursday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $13.25.

Insider Buying and Selling

In other Immuneering news, Director Thomas J. Schall bought 9,500 shares of the firm's stock in a transaction on Friday, June 27th. The stock was acquired at an average price of $3.66 per share, with a total value of $34,770.00. Following the completion of the purchase, the director owned 52,885 shares of the company's stock, valued at approximately $193,559.10. This trade represents a 21.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter Feinberg bought 25,000 shares of the stock in a transaction dated Wednesday, June 18th. The shares were acquired at an average price of $2.53 per share, with a total value of $63,250.00. Following the completion of the acquisition, the director directly owned 136,766 shares of the company's stock, valued at approximately $346,017.98. The trade was a 22.37% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 127,507 shares of company stock valued at $334,318 over the last quarter. Corporate insiders own 22.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC bought a new position in shares of Immuneering during the second quarter valued at $215,000. Bridgeway Capital Management LLC boosted its stake in Immuneering by 57.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 95,449 shares of the company's stock worth $322,000 after purchasing an additional 35,000 shares in the last quarter. XTX Topco Ltd purchased a new stake in Immuneering during the 2nd quarter valued at about $90,000. Jane Street Group LLC bought a new stake in Immuneering during the 1st quarter valued at about $32,000. Finally, Geode Capital Management LLC raised its holdings in Immuneering by 2.0% in the second quarter. Geode Capital Management LLC now owns 230,275 shares of the company's stock worth $776,000 after buying an additional 4,458 shares during the last quarter. Hedge funds and other institutional investors own 67.65% of the company's stock.

About Immuneering

Immuneering Corporation, a clinical-stage oncology company, engages in the development of medicines for broad populations of cancer patients. Its lead product candidates include IMM-1-104, a dual-MEK inhibitor currently under Phase 1/2a clinical trial to treat patients with cancer, including pancreatic, melanoma, colorectal, and non-small cell lung cancer caused by mutations of RAS and/or RAF; and IMM-6-415 is in Investigational New Drug application to treat solid tumors.